Chicago Company reported the following information at the end of the current year: Comnon stock (...
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Chicago Company reported the following information at the end of the current year: Comnon stock ( $5 par value; 42, 800 shares outstanding) Preferred stock, 15% ( $12 par value; 8,780 shares outstanding) Retained earnings $210, 080 104, 40e 284, 5ee The board of directors is considering the distribution of a cash dividend to the two groups of stockholders. No dividends were declared during the previous two years. Assume the three cases below are independent of each other. Case A: The preferred stock is noncumulative; the total amount of all dividends is $34,500. Case B: The preferred stock is cumulative, the total amount of all dividends is $46.980. Case C: The preferred stock is cumulative; the total amount of all dividends is $90,700 Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each ciass of stockholders for each case. (Round "Dividends per Share" to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount of dividends, In total and per share, that would be payable to each class of stockholders for each case. (Round "Dividends per Share" to 2 decimal places.) Dividends Dividends per Share Preferred Common Total Preferred Common Case A Case B Case C Reid 1 Required 2> Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each class of stockholders for each cas (Round "Dividends per Share" to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume Chicago Company issued a 30 percent common stock dividend on the outstanding shares when the market value per share was $24. Fill in the table below to show how this stock dividend would compare to Case C. (Leave no cells blank - be certain to enter o" wherever requlred.) AMOUNT OF DOLLAR INCREASE (DECREASE) Item Cash Dividend-Case C Stock Dividend Assets Liabilities Stockholders' equlty < Required 1 Chicago Company reported the following information at the end of the current year: Comnon stock ( $5 par value; 42, 800 shares outstanding) Preferred stock, 15% ( $12 par value; 8,780 shares outstanding) Retained earnings $210, 080 104, 40e 284, 5ee The board of directors is considering the distribution of a cash dividend to the two groups of stockholders. No dividends were declared during the previous two years. Assume the three cases below are independent of each other. Case A: The preferred stock is noncumulative; the total amount of all dividends is $34,500. Case B: The preferred stock is cumulative, the total amount of all dividends is $46.980. Case C: The preferred stock is cumulative; the total amount of all dividends is $90,700 Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each ciass of stockholders for each case. (Round "Dividends per Share" to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the amount of dividends, In total and per share, that would be payable to each class of stockholders for each case. (Round "Dividends per Share" to 2 decimal places.) Dividends Dividends per Share Preferred Common Total Preferred Common Case A Case B Case C Reid 1 Required 2> Required: 1. Compute the amount of dividends, in total and per share, that would be payable to each class of stockholders for each cas (Round "Dividends per Share" to 2 decimal places.) Complete this question by entering your answers in the tabs below. Required 1 Required 2 Assume Chicago Company issued a 30 percent common stock dividend on the outstanding shares when the market value per share was $24. Fill in the table below to show how this stock dividend would compare to Case C. (Leave no cells blank - be certain to enter o" wherever requlred.) AMOUNT OF DOLLAR INCREASE (DECREASE) Item Cash Dividend-Case C Stock Dividend Assets Liabilities Stockholders' equlty < Required 1
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Related Book For
Financial Accounting
ISBN: 978-1259222139
9th edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
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